True North Advisors LLC Makes New $412,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• True North Advisors LLC purchased a new stake in Equinix, Inc., acquiring 505 shares valued at approximately $412,000 during the first quarter.
• Multiple institutional investors, including Vanguard Group and JPMorgan Chase & Co. , have increased their stakes in Equinix, with institutional ownership now at 94.94% of the company's stock.
• Equinix recently announced a quarterly dividend of $4.69 per share, with a payout ratio of 183.74%, reflecting strong shareholder returns despite operational challenges.

True North Advisors LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 505 shares of the financial services provider's stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. raised its stake in Equinix by 18.9% in the first quarter. Benjamin Edwards Inc. now owns 36,378 shares of the financial services provider's stock valued at $29,662,000 after purchasing an additional 5,776 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equinix by 22.5% during the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after acquiring an additional 291,753 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Equinix by 8.5% during the first quarter. Frank Rimerman Advisors LLC now owns 1,055 shares of the financial services provider's stock worth $860,000 after acquiring an additional 83 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Equinix by 170.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,992 shares of the financial services provider's stock worth $26,085,000 after acquiring an additional 20,149 shares in the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Equinix by 2.1% in the first quarter. Townsquare Capital LLC now owns 2,218 shares of the financial services provider's stock worth $1,809,000 after purchasing an additional 46 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQIX. Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Cfra Research cut shares of Equinix from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 31st. The Goldman Sachs Group lowered their price target on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $959.86.

Equinix Price Performance

EQIX stock traded down $3.09 during midday trading on Wednesday, hitting $784.23. The company's stock had a trading volume of 254,235 shares, compared to its average volume of 629,221. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $76.74 billion, a price-to-earnings ratio of 76.81, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The company has a 50 day moving average of $816.55 and a two-hundred day moving average of $846.16.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $9.22 EPS. On average, analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.